By Sabela Ojea

 

ITM Power PLC on Friday said its Refhyne II consortium has been awarded a grant of 32.4 million euros ($37.4 million) by the European Climate, Infrastructure and Environment Executive Agency, or CINEA, for the development of a 100-megawatt electrolyzer.

The energy storage and clean-fuel group said the electrolyzer will be located at Royal Dutch Shell PLC's Energy and Chemicals Park in Germany.

The Refhyne II consortium comprises Shell Deutschland GmbH, ITM Power and ITM Power GmbH, Linde Engineering, ITM Linde Electrolysis GmbH, Fundacion Tecnalia Research and Innovation, Element Energy and Concawe, and is coordinated by Sintef AS, ITM Power said.

Shares at 0706 GMT were up 3.20 pence, or 0.8%, at 386.60 pence.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

October 08, 2021 03:30 ET (07:30 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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